Board of County Commissioners

Discussion Agenda Item A.1August 23, 2011

Approval to process paymentsbudgeted in FY 2011 for

Orange County/UCF economic development programs.

Orange County/UCF ProgramsOrange County/UCF Programs

• UCF Institute for Economic Competitiveness

• UCF Small Business Development Center

• UCF Small Business Advisory Board Council

• UCF Business Incubator – Central Florida Research Park

• UCF Venture Lab

Convergence a Decade AgoConvergence a Decade Ago

1. Metro Orlando Technology Strategy

2. September 11, 2001

3. Two county economic stimulus packages

4. Widespread acceptance: innovation and entrepreneurship are the keys to economic success.

Institute for Economic CompetitivenessInstitute for Economic Competitiveness

• Goal: Top 10 regional economic research centers

• Metro, Florida & U.S. Forecasts

• Dr. Sean Snaith our own “Go To” expert

• 120 presentations

• Orange County Jobs SummitsSean Snaith on CNBC Squak Box

Small Business Development CenterSmall Business Development CenterStrategic Tools Seminar Series Participants

Small Business Development CenterSmall Business Development CenterSuccess Story

• Fernando PereiraPegasus Transportation

• Participated in very first Strategic Planning seminar in 2002

• Started with one van , one driver, 100 sf

• Today: 65 employees, 20 coach buses, 3000 sf office, and 3600 sf shop

• 2011 SBA Small Business of Year – North FL District

UCF Advisory Board Council ProgramUCF Advisory Board Council Program

• No cost, custom-fit advisory boards

• Over 450 professionals assisted 125+ companies

• 30 active advisory boards involving 266 volunteers

• $64+ million increase in sales by ABC clients

• 1800+ jobs retained/created

• $14+ million in new capital investment

• $54 million in government contracts

• In 2010, ABC clients named to Inc 500 & Inc 5000 lists of the nation’s fastest growing companies

UCF Advisory Board Council ProgramUCF Advisory Board Council ProgramSuccess Story

• Contech Restoration in Winter Garden

• 2008: 40 employees

• 2009: 29 employees

• 2011: 78 employees• Revenues 2009-2010 up 114%

• “We have been thriving during the recession. Because of our Advisory Board, we are better prepared to hand off our company to our children and key executives.”

UCF Business Incubator - CFRPUCF Business Incubator - CFRP

• University –driven community partnership

• Provides early-stage technology companies with tools, training, and infrastructure to become successful

• Helped 160+ companies create $800+ million in annual revenue and 1600 jobs with average salary of $59,000

• Currently 49 companies in CFRP Incubator with 301 employees, up from 240 at start of 2011

UCF Business Incubator - CFRPUCF Business Incubator - CFRPSuccess Story

• Founded by UCF doctoral graduate David Rogers

• Exclusive agreement with McGraw Hill to create the UCF Digital Press

• Students can download textbooks

• Hired key people and is up to 10 employees

Iphone coaching appDr. Jonathan KibbleUCF Medical School

UCF Orange County Venture LabUCF Orange County Venture Lab

• Joint venture of Orange County and UCF.

• Sole mission is to nurture new tech spinoffs from UCF, or tech startups with potential of hiring UCF graduates

• Venture Lab has advised over 150 incubator clients and 11 UCF faculty members

• Currently assisting 26 clients employing 181 people

UCF Orange County Venture LabUCF Orange County Venture LabSuccess Story

• VaxDesign Corp.

• Designs, develops & manufacturers invitro models of the immune system

• VL provided sales coaching, market & industry research, and guidance on grant funding.

• Sanofi Pasteur acquired VaxDesign Corp. in 2010 for $60 million. Now Sanofi Pasteur VaxDesign Corp.

BCC Action RequestedBCC Action Requested

Approval to process payments budgeted in FY 2011 for Orange County/UCF economic development programs in the following amounts:

1. $200,000 to the UCF Institute for Economic Competitiveness2. $100,000 to the UCF Small Business Development Center3. $100,000 to the UCF Small Business Advisory Board Council

Program4. $125,000 to the UCF Business Incubator – Central Florida

Research Park5. $125,000 to the UCF Venture Lab